Inflation North Macedonia 2011
Average inflation: 3.9%
Current Inflation
Inflation is high at 3.9%, well above the ECB target.
Peak and Trough
The highest inflation was in May at 5.1%. The lowest inflation was in December at 2.8%.
- Highest month
- May: 5.1%
- Lowest month
- December: 2.8%
- Difference
- 2.3 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 7.2%. The lowest price increase was in Core inflation with an average of 2.9%.
- Highest increase
- Energy: 7.2%
- Lowest increase
- Core inflation: 2.9%
Historical Context
Current inflation is 0.8% higher than the 5-year average of 3.1%.
- 5-year average
- 3.1%
- 10-year average
- 2.2%
- All-time high (2008)
- 8.4%
- All-time low (2009)
- -0.7%
Trend
Inflation shows an upward trend. Compared to 2010, inflation has risen by +2.4 percentage point.
- Change vs. previous year
- +2.4 percentage points
- Largest monthly swing
- May: +5.5 percentage points
ECB Target
Inflation is 1.9% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €103.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2011
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2010 |
|---|---|---|
| January | 3.1% | +3.4 |
| February | 3.7% | +3.4 |
| March | 5.0% | +4.5 |
| April | 4.7% | +3.5 |
| May | 5.1% | +5.5 |
| June | 4.3% | +2.7 |
| July | 3.9% | +2.2 |
| August | 3.7% | +1.6 |
| September | 3.5% | +1.2 |
| October | 3.4% | +0.3 |
| November | 3.6% | +0.4 |
| December | 2.8% | -0.2 |
| Average | 3.9% |
Data source
Data from WorldBank. Last updated: 06/01/2026.